Uniti Group (UNIT) Q1 2026 earnings summary

Executive summary

• Achieved 15% year-over-year growth in total fiber revenue and record performance in both Kinetic and Fiber Infrastructure segments for Q1 2026.

• Kinetic Consumer Fiber gross adds reached a record 39,000, with churn at its lowest level on record and 88,000 premises constructed, the highest in nearly four years.

• Consolidated fiber revenue now exceeds 50% of total revenue, with core business contributing 78%.

• Strategic focus remains on expanding fiber footprint, operational excellence, and customer retention, with milestones achieved in fiber subscriber and revenue mix.

• Positioned to benefit from AI-driven demand and unique network locations, with significant opportunities in both dark fiber and WAVES markets.

Financial highlights

• Q1 2026 consolidated revenue was $987.5 million, up from $977 million in Q1 2025 (pro forma); Adjusted EBITDA was $442 million (45% margin), up from $403 million in Q1 2025.

• Kinetic Consumer Fiber revenue grew 26% year-over-year, with ARPU up 5% and fiber penetration at Kinetic reaching 29.1%.

• Fiber Infrastructure revenue up 13% year-over-year; consolidated bookings MRR reached ~$1.6 million.

• $70 million in one-time dark fiber sales-type lease revenue recognized in Q1.

• Cash, restricted cash, and equivalents at March 31, 2026: $1,131.9 million.

Outlook and guidance

• 2026 consolidated revenue and adjusted EBITDA expected at $3.605–$3.655 billion and $1.425–$1.475 billion, respectively.

• Kinetic targets: $2.15 billion revenue, $905 million contribution margin, 2.3–2.35 million homes passed, 675,000–700,000 fiber subs, $635–$655 million consumer fiber revenue.

• Fiber Infrastructure targets: $975 million revenue, $560 million contribution margin, $140 million net CapEx.

• Revenue from large hyperscaler deals expected to be lumpy, with significant recognition in Q1 and Q4.

• Guidance excludes impacts from future acquisitions, capital market transactions, and unspecified future costs.